I don't want to work anymore!

[ettieb]

I'm 55 and have been working since I was 16 apart from a couple of years off when my son was little. I'm so over working. I don't hate my job.. I've worked there a long time... with lovely people.. my boss is great and I can choose whether I work from home or go into the office or a bit of both.. so I know I'm very lucky but I just want freedom to do what I want when I want. It doesn't help that a lot of my friends are retired and do lovely things which I want to join in with. I can't believe I've got to do this for another 12 years... there are no options for me financially to go part time. We are on holiday at the moment in Devon.. nothing fancy.. just a caravan and cooking for ourselves mostly as we can't really afford to eat out... but I'm as happy as Larry... just knitting.. doing crosswords.. generally bimbling around doing my own thing. I just think I wanted to moan!

I agree with you completely and it's something I think needs to be looked at in relation to state retirement. At the moment you qualify for the full state pension once you have 40 years full NI contributions, however cannot retire until 65+ years.

It needs to be changed to allow you to retire early on your full state pension as soon as you have 40 years full NI contributions. So someone who starts work at 16 and works solidly for 40 years should be able to retire at 56.

There is that factor for some people - ie one of the "sudden deaths" that have been happening since 2020. So - need to count in a possible "sudden death" out of the blue for those that have had "that Jab - 2020 onwards". Message being "try to live for the day as much as possible - just in case" if one has had that jab and is at risk of "sudden death". I refused to have it personally - and so can expect the rest of my due lifespan presumably - but would have to factor in "a possible sudden death" if I had had it....though my "unexpected factor" is the "bad/long cold" I had last year turns out to have been Covid, so there are a couple of minor health issues because I didnt know it was Covid at the time and so didnt treat it (yep...I've got our remedy for it and have taken it since - but my regret is not taking it immediately - now that I know it wasnt a cold) - so my unexpected stuff from that that is restricting retirement currently is I'm working on how to get rid of deafness in left ear/breathlessness and loss of sense of smell (on top of "my own" health issues).

I am 40yo and about to start a degree via the OU. I have not been in paid employment since around aged 26/27. We are in a fortunate position that I am time rich. I have raised all of the DC all these years, now I am embarking ony studies for personal development.

I don't worry too much about pensions, will get there just the same as anyone else in life🤷🏻 life is for living. You could get hit by a bus next week. You have to make each day count.

No point slogging away into your late sixties and not being healthy to enjoy your retirement after you stop working. That's what the government are banking on, so they don't have to pay out your pension.

Entirely understandable people being so exhausted and wanting to retire early. We are not meant to be going non stop 8-9 hours a day, 5 days a week. I am lucky to work part time at the moment as I also have a young DC, but I'm dreading having to go back to full time for so many more years. If we're able to afford it, I'd rather live more frugally to be honest.

One trend I did notice in the responses here: some people who say they can't retire earlier are also helping out grown-up children financially or by letting them live rent free. Nice as it is to do that for them, it does place an additional and significant burden on the parents to keep working to support adult children, rather than enjoy living their lives.

I retired at 50 and am absolutely loving it, six years on. I'm sure no one, on their death beds, wish they'd spent more time at the office but it's so hard when the finances won't allow for early retirement. My grandfather retired at 59, was very badly injured in the war. Dropped dead a week later so didn't even get to enjoy that down time.

I’m envious of those who retire early! I’d love to do it and couldn’t definitely fill my time! I’m only mid thirties and have decided to work part time since having kids and will maintain this until I retire. I have little hope the state pension will still be there by the time I get to that age, have an NHS pension but the 2015 one which isn’t brilliant so won’t be retiring early. I’ve known a number of nurses who pass away soon after retirement so I have chosen better work/life balance for my working years than slogging my guts out for an ‘early retirement’- realistically early sixties at best- which isn’t guaranteed.

Luckily l retired early ( age 46) ill health. My 1st Grandson was born.. followed by 3 more.
I've had the best years.. I'm now 65( a year off pension age retirement) .3 Grandsons teenagers one age 9. I spend time with them still... plus my daughters. I holiday abroad 6 times a year ( just for 6 days at a time) Cyprus.. Greek Islands... Canary Islands.
See friends. Days out a lot ( not too much shopping) .
I do have loads of hospital appointments/ counselling.
I sew.. Read.. bake..
And all of this without an husband/ partner.
Never bored.

@ettieb
Many people would prefer not to work. Most ,at least in part work out of necessity. If you find a solution, you can probably market it and make a fortune.

Is there any way you could make it happen? Could you downsize, move to a much cheaper area maybe look at a cheaper part of the world to live in. Do you have any hobbies you could make an income from? If you are a good knitter maybe look at selling really good quality stuff online. I know its not the ahem, nicest thought but are you likely to inherit any time soon?

Could you part time even half a day to give you that bit more time? But if you can’t afford part time there’s not much else you can do as it sounds like you’re in a job that you like.

I'm 36 and still enjoy working most days, but this is an interesting thread to read! My husband and I have age 60 targeted for retirement and estimate that we'll need 35k each in today's money. We have been doing our financial planning accordingly but I wonder if it's enough now and maybe we should be contributing more to our pensions in case we do burn out in our 50's.

I'm there already and only 33!! 😅

I am more worried about your finances tbh, you seem to have not planned for your retirement, have paid into a private pension? Finished your mortgage? Don't forget once you finish work you won't have money coming in unless you have investments or savings and state pension age is going to get further away in the future you can get on it. I would try and stick it out a few more years and in that time try to save and pay the mortgage off is possible and then speak to your boss about going part time in a few years time, get him used to the idea.

Omg same, 53, would love to have enough money to not work. I don't need a fortune. But single parent, well, one of my DC has moved out. One at home. What I really mean is that there's no other income. I just have to keep going til i'm 67. Not sure if I can do that tbh. I could go 80% but not yet. It's too soon. I'm trying to stick to 5 days a week until I'm 60.

I am starting to feel peripheral at work, like, the last to know things, not included in coffees and I can see how it goes, by the time you're 67, you're included in NOTHING. so being at work is triggering my abandonment wounds lately. If I were at home pottering about it'd be easier. Bit of yoga, maybe a pottery class, brush up my spinach, read, youtube gurus do up the house (slowly)
Working is really getting in the way of my life. I would like to walk the camino while i still can

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Oh, I feel this so much! I used to love working,was ambitious, and had a really drive to excel. Now, work is just an inconvenience. I'm only 42 as well!

I too have a good job, it's quite enjoyable, very flexible, wfh for nice people. I just don't want to do it. I want to be out on long walks with the dogs, maybe foster rescue dogs, learn instruments, volunteer, do crafting, gardening, DIY etc etc. I recently realised that I've worked for 24 years and have more than another 24 to go. It just makes me feel so depressed.

No advice, but you are not alone.

Do you mean £35K income each? Pre tax, or net? Either way, that strikes me as a lot, given that you won’t have a mortgage, commuting costs, work clothes to cover, or be paying into pensions any more.

DH and I are living quite comfortably on an effective income of £31K (net) between us. Having said that, we’ve only been doing it for 2 years. We have holidays, but not 5 stars in the Caribbean, we do plenty of activities, but would balk at paying £200 for tickets, don’t buy designer labels or pay for expensive grooming. So I guess it depends on what standard of living you aim for.

47 and feeling this way. No children, so no years off. Just work full time since 16.

Retirement seems so far away, I no longer have the motivation to climb the ladder, which is probably the one thing that might get me to retirement sooner ffs.

I am however very grateful for wfh and the work/life balance I have. But still... I just want to potter.

I was lucky enough to retire at 58 on a small private pension ( 60 in a couple of weeks).....busier than ever now & love it. Long walks with the dog without the rush to get back to work, socialising with friends, looking after elderly parents, gardening, cooking & very little stress. Would say it's given me a new relaxed lease of life rather than aged me

OP - I feel your pain. I also work in a good job, great company and people so nothing to moan about. I'm also 55 and have worked full time since 18 with no breaks. I've been commuting to London for nearly 30 years as well.

Up until this year I never really had a problem but recently I just feel tired all the time. Everything takes so much effort.

I'm lucky in that I've paid into a pension since I started work and don't feel as though I'm ready to give up on work yet, I just need to try and physically and mentally reset to see me through a few more years. Mortgage is paid off but not much in savings yet.

I haven't reached state pension age but I could take my work pension if I wished. My youngest is only just 18 though and both kids live at home, plus DH earns substantially less than me. And I like my job. I don't feel ready to give up yet, though have friends who have that I could see more of.

I do like routine but I also like doing nothing much - think I need both sorts of days in my life. I haven't worked full time in 20 years - 3 days when kids were little, 4 days in recent years and I really appreciate the 'day off'. There's no reason really not to work that day any more, I just like the 4 day week. I occasionally do the extra day if there's a reason for it.

Part of me fears endless days with nothing I particularly NEED to do.

you need to work out how much you need to live on, I think retiring before paying mortgage off is hard. check you have enough years for full state pension is you both do that's about £11K each from 67,
does your pension come with a tax free lump sum ( it maybe 25% of the pot or something like 3 x annual pension income.) you need good estimates of this and how much it will reduce for each year early you take your pension.

are you going to use lump sum to pay off mortgage? are you going to downsize and pay off mortgage that way? does the lump sum just need to supplemet your workplace pension until you get state pension. do you have other savings for buying larger capital items like new cars house maintenance and possibly having to pay someone later to do DIY gardening etc ( though if you need help with DIY you might not be travelling so much)

expenses will be different you will not be paying a mortgage or commuting or needing office clothes or buying lunch coffee everyday etc, you will be paying for more heating as home more, you will probably spend more on hobbies and eating out will probably not just be a sandwich and coffee! your holidays may or may not go up as you can go off season

@shivawn I think 35k before tax is ample unless you have very expensive tastes also you only need that 35K until you reach state pension age, then to maintain that standard you need 13K plus 2 x 11K state pension depending how the 35K is split between you will make a difference on how much tax you will need to pay

@shivawn I think 35k before tax is ample unless you have very expensive tastes also you only need that 35K until you reach state pension age, then to maintain that standard you need 13K plus 2 x 11K state pension depending how the 35K is split between you will make a difference on how much tax you will need to pay

I think Shivawn is suggesting they aim for £35k p.a. each. How much you need is a very individual thing so that might well be right for her but I would have thought it was at the very high end of what people would aim for. Of course the risk of going too high with your aim is that you then end up working for far longer than you need to and don't have the time to enjoy it.

What the heck are you going on about?

Perhaps it would help if you start trying to change the way you see work. E.g. how it contributes to society. If no-one worked, we would all have to become subsistence farmers livingin simple homes because we would not have farmers, builders, washing machine mending people, engineers, doctors. If you job contributes nothing to society (which is unlikely), perhaps look at other jobs. Another alternative is to seek higher paid work and go down to 4 days a week.

That is my ideal, but at present want to work 5 days a week so that I don't get sidelined at work.

Also, do some financial planning; have you got a private pension? Can you use this to retire early (look up 'income drawdown' as opposed to annuities). Can you get rid of some of your expenses (like your car?) and reduce outgoing to enable a 4 day week.

I will probably retire at 60, using my private pension as income until the state pension kicks in.